Industry News
U.S. Risk Council Designates Prudential for Tougher Oversight
Insurer Prudential Financial Inc. said the U.S. financial risk council has designated the company as systemically risky in a final vote, bringing it under stricter regulatory oversight. Prudential ...
Germany’s Ergo Expects Asia, Eastern Europe Premium Growth
Munich Re's insurance unit, Ergo Versicherungsgruppe, plans to increase international premiums by more than a fifth over the next five years on sales in Asia and eastern Europe. "We aim to increase ...
PartnerRe Says German Hail Impact to Exceed $50M
PartnerRe Ltd. announced estimates of its cost for the German hailstorms that occurred in the last week of July 2013, putting the losses at between $50 million and $60 million pre-tax. The range of ...
AmTrust Financial Services, Inc. Buying California Surety Writer For $85M
AmTrust Financial Services, Inc. announced Wednesday that it entered into a definitive agreement to acquire The Insco Dico Group for approximately $85 million, or $7.0 million above its tangible book ...
World Trade Center Developer’s Insurance Recoupment Suit Dismissed
Real estate developer Larry Silverstein can't recoup any of the $1.2 billion recovered by World Trade Center insurers in settlements with airlines and airport security companies over the Sept. 11, ...
NAMIC Opposes Efforts to Delay Flood Insurance Reforms
The National Association of Mutual Insurance Companies on Wednesday released a statement urging Congress to resist efforts to delay the reforms adopted under the Biggert-Waters Flood Insurance Reform ...
SEC Unveils CEO-to-Worker Pay Ratio Rule
U.S. corporations will need to disclose how their chief executive officers' paychecks compare with those of their workers under a proposal unveiled on Wednesday by the U.S. Securities and Exchange ...